WHITEHORSE—Global credit rating agency Standard and Poor’s has affirmed Yukon’s credit rating as AA for the seventh year in a row. Yukon has the third highest rating in the country.
“Growing our private sector economy, attracting investors and managing taxpayer dollars responsibly is a high priority for our government,” Premier and Minister of Finance Darrell Pasloski said. “This rating is another strong signal that our approach to financial management is building a better future for all Yukoners.”
The 2016-17 main estimates indicate that the Government of Yukon expects to have $57 million in net financial assets by the end of the fiscal year, meaning that cash and other assets exceed any debt or other liabilities.
In assigning its ratings, Standard and Poor’s considers private sector economic performance, demographic trends and government finances.
As in previous years, strengths highlighted in the rating report for Yukon include good financial management, very low debt levels and exceptional liquidity.